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America 45, Libya 34, Us 27, Benghazi 17, Ronald Reagan 14, United States 14, U.s. 13, Romney 12, Egypt 10, Obama 8, Clinton 8, Jimmy Carter 8, Apple 7, Mike Reagan 6, Chicago 6, Stuart 5, Doug Schoen 4, John Bolton 4, Chris Stevens 4, Lifelock 4,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    September 12, 2012
    9:20 - 11:00am EDT  

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♪ ♪ >> an ambassador killed, an embassy invaded and america undersiege in the middle east. will we keep paying for it? good morning, everyone, in libya, ambassador christopher stevens and three of his staff have been killed in an attack on our consulate in benghazi, in egypt as we honor 9/11, our
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embassy overrun. over an american made movie criticizing muslim and the president says we should not denigrate the beliefs of others. and the european bailout, they will print. back home, ben bernanke begins a stimulus meeting he's likely to print. stocks, gold, oil, up, up, up, paired by the mitt east outrage, apple gets ready to show us iphone 5, could it really be big enough to move the whole economy? it's a cascade of news and we've got it all. "varney & company" about to begin.
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we have this news just in. president obama will speak at 10:35 eastern this morning in the rose garden. hillary clinton secretary of state will be with him. and here is the latest what's happening in the middle east and this is what the president will be talking about later on. the u.s. ambassador to libya killed in a rocket attack.
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his name is chris stevens, one of four americans killed in the attack. a rocket hitting the consulate in benghazi and an angry mob gathered outside. what were they so angry about? a movie, yeah, a movie supposedly mocked the prophet muhammad and the president strongly condemning the attack and saying this, quoting now, while the united states rejects the efforts to denigrate religious beliefs of others, we must oppose the violence that took the lives of these public servants. again, the president will speak about this attack 10:35 eastern, we will carry it for you. and the u.s. embassy in cairo attacked. an american flag was ripped down and destroyed there and remember, we've given billions in aid to egypt. coming up in a few moments, ambassador john bolton will join us, where is america's mideast policy headed and should we keep paying? just this morning, germany's top court approved that nation's
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participation in a european bailout, paving the way for money printing in europe. and the markets like it. here is a look at dow futures, oil and gold. all of they will are up this morning, as of right now, they're all up. and they were up a whole lot more before the news of america's ambassador being killed in libya, before that news came out. we're up a lot more. we've got a big day for apple. a new iphone expected to be unveiled and mark zuckerburg, says it's time to double down on facebook, we're watching both big names at the opening bell. plus, sure does feel like 1980 all over again, doesn't it? bad economy, tension in the the mideast, we're talking to ambassador bolten about all of that. and scott rasmussen will tell us what about this will have on voters. with all the opinions about stocks out there, how do you know which ones to follow?
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because a german court gave a go ahead to a european bailout by the european central bank and yeah, they're going to print money. it's widely expected and looks like it's going to happen. in fact, it will happen and that's why the dow industrial average which is about to start trading will go up in the opening bell and that's why the dow industrials are well above 13,300, even though we have an economy in america that's clearly weakening. and let's go to the big board, hold on a second. when the bell stops ringing, you'll start to trade and off and running and the dow has opened with a trend to the upside. again, we're expecting maybe 60 points up in the first couple of minutes and then we have apple, expect today roll out the latest iphone at an event today. and right from the opening bell, where is the the stock? >> up arrow for apple. i can tell you yesterday, the options guys were there playing it both ways, stuart. it was interesting, 3% either way, so, right now, they're not getting too much either way and giving up about 1%.
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it's not near 683 which is the all-time high and we'll see as we learn more about the iphone 5. stuart: what i've been led to expect. most people have been led to expect. the iphone 5, it has a bigger screen, it will be thinner, more cool, and lighter in weight. but my question, isn't it possible that we'll get other new products, or other new developments with existing products, along with the new iphone? >> that's right. okay. and first of all, i like the way you say more cool. i also want to talk about the iphone, a lot of folks are waiting for that bigger screen and we've got to see if we get that. we talked about a lot of products and chatter, is there another ipod? not the ipad mini, that probably won't be today and by the way, we discussed women texting and i was watching the network this morning and it wasn't-- watching for it and the anchor and the reporter both side can't
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text on it and bought blackberry and this one hope they can text on it. stuart: and whether or not you can text properly on the key pad of an iphone, that's what i want. >> that's what we want. the iphone, whether it's usable for some of the women frustrated. stuart: yet again, you got the last word. thank you, nicole. and the dow up in the early going. facebook chief mark zuckerburg, admits mistakes with the company's mobile strategy ab's going to change and and disappointed with the stock's performance thus far. at 20.78 a share and a 7% gain for facebook, please remember, the stock's lost about half its value since may. and quickly to the big story in the world not just in finance and america, this is a world story. the u.s. ambassador to libya and three others killed in a rocket
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attack at the u.s. consulate in benghazi, libya. joining us is john bolton. we've heard that a marine fast team is going to be deployed to benghazi by the president, that's american troops, loaded for bear, going to benghazi, i presume that's a defensive move not to attack anybody. and what do you make of the latest news. >> i think the first duty of the president and secretary of state in the wake of benghazi is to provide security for the americans in the entire middle east. the diplomates, personnel and tens of thousands of americans who are there because, with al-jazeera, and youtube, people can see this. and this is very, very serious, this is potentially tehran 1979. stuart: and the 1980, 2012. and earlier today the president
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put out a written statement and going to appear in the rose garden, and we'll carry that. he put out a written statement. he rejected the denigration of religious beliefs of others. it seems to me it was a near condemnation of the movie which set off this embassy riot in egypt and the killing in libya. i wanted a much more vigorous defense of america's freedom of speech. what do you say. >> absolutely. look, i assume this movie is hateful and despicable. let's start with you, there's nothing you can say that's good about it. but what you say in a free society. we value freedom of speech and when the government comments on the substance of speech and tries to move it in one direction or another, that's impermissible. that's what the first amendment is designed to protect against. what we should be doing not apologizing for some nut case movie, but defending the american system and saying in any event, a proper response to it is not a 13th century style
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attack on our diplomatic facility. killing our diplomatic personnel. it's unacceptable. the president does not give a strong statement at 10:30, i'm worried that this is going to spread throughout the region. stuart: we have not taken a strong position in the middle east, have we? >> look, this is in part the reaction three and a half years of weakness. these demonstrators weren't living placid lives before they decided to go out and storm our embassy. i don't buy the argument this was spontaneous. why buy an argument in egypt where the muslim brotherhood is now in charge and could have said to the people stay at home or ensured that security guards protected our embassy. stuart: and you said, yes, we should keep the money flowing to egypt. you still think that? >> i think we're right at the point where the president says, this will never happen again or we will pull the money and this is the moment. you cannot do this to american
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diplomates. you cannot kill our personnel or any american citizen in your country, and expect not to bear the consequences, now, step up to your responsibilities, protect our facilities and our people, or you will feel the consequences. stuart: so you think he should draw that red line. >> absolutely, today. stuart: the middle east period. >> he doesn't have a red line with iran. that's the problem >> will he meet with netanyahu? >> this is a signal to them, that's the way we treat our best ally? it's a free pass for them. stuart: ambassador john bolton, a pleasure sir. >> thank you. let's get back to the markets and take a look at oil and gold please. oil moving higher. on hopes that the euro zone is going to flood the euro zone with a the lot of money. the price of oil at 97 a barrel this morning, not much change there. look at gold. it remains well above $1700 an ounce and we're at 1740. money printing in europe means
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up goes gold and oil. and keep an eye on gas prices of course, look at this, gas is up 3 cents in the past two days and the anl average now 3.85. look how many cities have joined the $4 club, states i should say. look at that, all over the map. those states an average of $4 for regular, within all of those states. and here is the question, back to the world story. will events in egypt, libya, and iran, make a much-- or take a much bigger role in november's election or is the economy going to remain item issue number one. and scott rasmussen from rasmussen reports is in new jersey and i'm asking you to look at the future for a second, not poll the past, and look at the future, is there a chance that news like we got today will start to dominate in election? >> i don't know that it will dominate this election, but it can certainly have a big impact. it will have the biggest impact if it leads to other concerns on oil or economic matters. but, this is, you know, this is something we're at the beginning
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of a news story. we don't know what the next steps will be. we do know that americans have been concerned about events in the middle east and we know that 63%, even before this, thought there's a global war between the islamic world and western civilization and this will certainly add to that sense. stuart: may i ask you about the jewish vote, which went 78% for president obama in 2008. i've heard reports that it will be lower than that in 2012. do you have any polling on this whatsoever? >> we have hints in the polling data that it may be a little softer this time around. and again, depending on what happens the next few weeks, that could change dramatically. stuart: what's the latest tracking poll that you have? >> as of this morning, it's obama 46, romney 45. the president's bounce is gone, and in fact, stuart, when we add in leaners, people that don't have a commitment up front. if you had to choose, romney is up by a point. 48-47. so the conventions are behind us and now it's about the economy
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and possibly what's happening in the middle east. stuart: very interesting, scott. right after the convention, the democratic convention ended prime minister in your poll, of likely voters, i think he was up 5 points over the weekend. yesterday, he was up 3 points and now it's 1 point. as you say, that bounce looks like it's gone, correct? >> that's correct. the bounce began the night after bill clinton spoke and handed the president a couple of good nights, but now back to where we before the conventions. stuart: we are in an extraordinary business, and fascinating. stuart: you're in that business and so am i, i guess. scott rasmussen, thank you very much indeeds. >> thank you. stuart: we want to hear from you, send us e-mails right now, please, varney@foxbusiness.com, we read them all and we like them. seven early movers this wednesday morning, we've got a disappointing outlook from the data storage company, xyratex, and same goes for satellite
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company globe communications, other globe com i should call it, down 16%, dismal outlook, down goes the stock. red rider hotels, that stock down 8 percent, red lion. mark zuckerburg says he's disappointed by the facebook performance, up goes facebook 5%. steel maker, steel dynamics, it expects lower profits, down just a fraction, texas instruments, plural, it sees soft demand continuing and that stock is dead flat, pretty soft. here is apple shares, ahead of the company's big event later on today, and 662. remember, all time high for apple intraday 6 83. watching it for you. and the chicago teachers strike day three and now even the new york times is coming out against the teachers union. can you believe it? what will this mean for taxpayers? are unions about to lose their grip on public education? [ male announcer ] at scottrade,
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offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running. so come talk to us to see how we can help. wells fargo. together we'll go far. >> we've got a 50 point gain to the dow industrials. could have been higher and the outrage in benghazi. check out the price of oil, $97 a barrel right now and rising. and check out the chicago teachers strike, which is now in its third day and the union and rahm emanuel are no closer to a deal. the washington post and chicago tribune have come out against the strikers and now, even the new york times is siding with the mayor. and now on the times. teachers strikes because they hurt children and their families are never a good idea. and that's the new york times. and well, today, the union says
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it will meet this morning with negotiators to review a n proposal. and john is in illinois. i'm getting the impression that there is a lot of anti-teachers union feelings around the country and i'm wondering that same feeling, anti-teachers union is now present in chicago? >> it's starting to build because people have to deal with, you know, where are you going to put your kids? where do the children go during the day while mom and dad are at work? you mentioned the new york times editorial. and you know, and they've said it's not a good idea. you know what else is not a good idea? for the president's man, rahm emanuel, to be fighting the public sector unions while obama is seeking reelection. it's also not a good idea. stuart: not a good idea for who? do you think it's going to rebound against president obama in the november election? >> no, i don't, i don't think so. but on the other hand, you have
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a system in chicago, like any big city, they take the-- it's a monopoly. the teacher's union and the bureaucrats push the democrats to raise taxes and then they raise the taxes and then raise it, you know, wages go up and then in exchange, these people, the politicians get the support from the unions, and the bureaucracies, to run for reelection, and that's the formula. so, we're talking about a monopoly, and now, you're seeing the democrat, rahm emanuel, going against that monopoly and find it interesting. stuart: now, you mentioned the beginnings of some anti-union feelings on the part of parents. >> correct. stuart: because they have the kids at home and go to work on at rest of it. is there some anti-union feeling, maybe on the partf the parents, because the teachers don't want accountability? they don't want to be accountable to any other authority other than the union,
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for their own advancement and hiring? >> the teachers see that the-- down the road. rahm emanuel, will start closing some schools, so, what will happen is teachers will get fired and that's why they're fighting over this evaluation business right now. and it's a precursor to what will come down the the road. and what i see happening is this system collapsing academically, four to five out of every ten children don't graduate, okay? and i think that the time is now, you're seeing it, i wrote about it in today's column in the chicago tribune, a push again for vouchers, for student choice, particularly, for the poorest children in the system. and it's becoming in a sense, if you look at it, outside of politics a civil rights issue, and i think vouchers or charter schools, it's going to be-- are going to be used, you know,
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and discussed in the coming days. stuart: john cash, chicago tribune, this is fascinating stuff. this could be a turning point in the way we educate our children and certainly in chicago. >> it should be. >> john, thanks a lot. we'll see you you soon i trust. the price of gold this morning going up, 1,738.70 an ounce, all of those gold coins you bought for the grandkids, $1700 they're worth now. violence against america in the middle east draws serious parallels to 1980. it's a major theme today on "varney & company" and next, sandra smith and doug schoen joins me for the rest of the the show. topic one, will mitt romney will put out an ad like this. >> do you really think that third rate dictators would laugh the at america and burn our flag in con at the point in time, if ronald reagan were president? [ male announcer ] the markets keep moving.
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>> do you really think iranian terrorists will take americans hostage if ronald reagan were president? do you think the russians would have invaded afghanistan if ronald reagan were president? do you think that third rate military dictators would laugh at america and burn our flag in contempt, if ronald reagan were
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president? isn't it about time we have the strong new leadership ronald reagan would provide, isn't it about time america would have a president whose judgment we can trust. stuart: obviously, that was an ad for ronald reagan in 1980 and reminding people of what's going on now. back in '80, unemployment very high and the economy very weak and tensions in the middle east that made america look weaker and there was a democrat incumbent president running for reelection against a former governor, do you see direct political parallels between the two? >> i do see political parallels, see them economically and politically, socially. barack obama as president is better liked than jimmy carter. the economic problems may have been a bit more acute in 1980, but politically, very close. the difference is, romney has yet to hit the responsive chord we saw in the ad with ronald
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reagan. stuart: he's going to make one in a moment. but the killing of an ambassador parallel with 1980. >> that's true icht and sandra over to you, parallels in the economic. >> there are eerie similarities to the stock markets and the commodities markets in 1980. i spent a bunch of time looking at the stock chart from the dow during the entire course of the year 1980. looked very similar to 2012. and that being said, oil prices were skyrocketing, obviously, lines around gas stations in 1980 and gold when adjusted for inflation in 1980. very comparable levels, so the markets are reading this similarly. >> and direct parallels, we are waiting for governor romney to make a statement on the benghazi incident and america's ambassador to libya killed in an attack there. and secretary of state hillary clinton is going to make a statement, also. at 10:45, the president speaks on the rose garden. an eventful morning in the markets and in the world quite
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clearly. we're about to update you on the latest developments and how they could affect the money and your money, that is, on the presidential election. and former reagan speech writer, peggy noonan is about to join us with her take how much is reminds us of 1980 and america weak under siege overseas, we're coming right back. do it! now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together that's a lot of work getting that one in! let's go see the birdies. [ male announcer ] one on one, sharing what you know. let's do it grandpa. that's why humana agents will sit down with you, to listen and understand what's important to you. it's how we help you choose the right humana medicare plan for you. because when your medicare is taken care of,
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>> hillary clinton is speaking on the benghazi affair. >> shaun smith and our ambassador to libya, chris stevens, we are still making next of kin notifications for the other two individuals. this is an attack that should
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shock the conscience of people of all faiths around the world. we condemn in the strongest terms this senseless act of violence and we send our prayers to the families, friends and colleagues of those we've lost. all over the world every day, america's diplomates and development experts risk their lives in the service of our country and our values. because they believe that the united states must be a force for peace and progress in the world. that these aspirations are worth striving and sacrificing for. alongside our men and women in uniform, they represent the best traditions of a bold and generous nation. in the lobby of this building, the state department, the names
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of those who have fallen in the line of duty are inscribed in marble. and our hearts break over each one, and now, because of this tragedy, we have new heroes to honor, and more friends to mourn. chris stevens fell in love with the middle east at the young peace corps volunteer, teaching english in morocco. he joined the foreign service, learned languages, won friends for america in distant places and made other people's hopes his own. in the early days of the libyan revolution, i asked chris to be our envoy to the rebel opposition. he arrived on a cargo ship in the port of benghazi and began building our relationship with
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libya's revolutionaries. he risked his life to stop a tyrant and then gave his life trying to help build a better libya. the world needs more chris stevenses. i spoke with his sister ann this morning and told her that he will be remembered as a hero by many nations. shaun smith was an air force veteran. he spent ten years as an information management officer in the state department. he was posted at the haig and was in libya on a brief, temporary assignment. he was a husband to his wife heather, with whom i spoke with this morning. he was a father to two young children, samantha and nathan. they will grow up being proud of
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the service their father gave to our country. service that took him from pre tora to baghdad and finally to benghazi. the mission that drew chris and shaun and their colleagues to libya is both noble and necessary. and we, and the people of libya, honor their memory by carrying it forward. this is not easy. today, many americans are asking, indeed, i asked myself. how could this happen? how could this happen in a country we helped liberate in a city we helped save from destruction. this question reflects just how complicated and at times how
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confounding the world can be. but we must be clear-eyed even in our grief. this was an attack by a small and savage group, not the people or government of libya. of everywhere chris and his team went in libya, in a country scarred by war and tyranny, they were hailed as friends and partners and when the attack came yesterday, lynnions stood and fought to defend our post. and some were wounded, libyans carried chris' body to the hospital and they helped rescue and lead other americans to safety. and last night when i spoke with the president of libya, he strongly condemned the violence and pledged every effort to
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protect our people and pursue those responsible. the friendship between our countries, born out of shared struggle, will not be another casualty of this attack. a free and stable libya is still in america's interest and security. and we will not turn our back on that. nor will we rest until those responsible for these attacks are found and brought to justice. we are working closely with the libyan authorities to move swiftly and surely, we're also working with partners around the world to safeguard other american embassies, consulates, and citizens. there will be more time later to reflect, but today, we have work to do. and there is no higher priority than protecting our men and women wherever they serve.
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we're working to determine the precise motivation and methods of those who carried out those assaults. some that thought to justify the vicious behavior of the protest that is took place at our embassy in cairo yesterday, in response to inflammatory material posted on the internet. america's commitment to religious tolerance goes back to the very beginning of our nation. but let me be clear, there is no justification for this. none. violence like this is no way to honor religion or faith, and as long as there are those who would take innocent life in the name of god, the world will never know a true and lasting peace. it is especially difficult that
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this happened on september 11th. it's an anniversary that means a great deal to all americans. every year on that day, we are reminded that our work is not yet finished. that the job of putting an end to violent extremism and building a safe and stable world continues. but september 11th means even more than that. it is a day on which we remember thousands of american heroes, the bonds that connect all americans wherever we are on this earth, and the values that see us through every storm. and now, it is a day on which we will remember shaun, chris, and their colleagues. may god bless them and may god bless the thousands of americans
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working in every corner of the world who make this country the greatest force for peace, prosperity, and progress. and a force that has always stood for human dignity, the greatest force the world has ever known and may god continue to bless the united states of america. thank you. >> you heard it, the secretary of state and here is what she's responsing to. the news background, the u.s. ambassador to libya is dead. and killed because of an american made movie. our embassy in egypt is undersiege supposedly because of that same movie. this is a story across the world and peggy, your response to
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secretary clinton statements. >> it had an apt and tribute to the specific american diplomates that just were killed, but also to american diplomacy, we've heard that these people risk their lives to be where they are and to represent their country. so, that's one point. a larger point, i think is that she, she's trying to, i think, the secretary of state is trying to damp down emotions a bit, understandably, by focusing a bit on other emotions, but i think there are some very big questions here about this whole thing, about the incident last night, in libya. you have to-- i think we need it know a lot more. who got these crowds so whipped up. how exactly did they do it. who did it? on what time line. where were the security force ins egypt and later in libya? why was, in libya especially, were the u.s. personnel not
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protected? what was going on? >> now, she says that the people who attacked the conditions lat in benghazi, a small and savage group, there was no suggestion who who they might be. as doug suggested earlier, maybe al qaeda? there's no mention of who they were or what group they represented, or who organized them. >> especially in light of reports on the internet that they were linked to extremist supporters of sharia law. stuart: do you think the secretary of state was going a little in retreat on pointing the finger and sager we're not going to tolerate it again? >> stuart, i don't know. i don't know what they know. all i can tell you is, there's a lot of questions here. and a cascade of questions that have got to be understood so that we understand exactly what happened. but, certainly, i mean, this is a moment not only a tragedy, but, this has the feeling of something that could be begin a
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long-term crisis. >> now, there's a movie at issue here, an american made movie, which i've not seen it, we're told it defames the prophet muhammad. >> almost nobody has seen it. it's interesting that some people have seen it. >> now, secretary of state clinton called it inflammatory material on the internet. she did not come out with a ringing defense of america's right to free speech. implicitly she condemned that movie as inflammatory, what do you think of that? >> you know, we're living in a town-- i'm thinking of mr. princes, who shot the archduke in started a war whose reverberations are still felt. we're living in a culture now with the internet with so many ways of communicating that everybody wants to be a princess, everybody wants to cause rubble trouble, everybody wants to say, pow, i can get you all excited.
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so, that is-- that's technological fact is i think, part of that story. >> and governor romney yesterday put out a statement about the egyptian embassy occupation, calling it disgraceful. calling the white house's response to that occupation disgraceful. today, the white house says, don't you go using this for political gain. now, do you think that this whole blowup in the middle east could become a very important issue in the forth coming election? >> i do, but i also think hot times should be met by cool words. and i think discretion is very important and it should not, certainly now, everybody should absorb what happened and the u.s. government should be seriously deciding what to do and who to press and how to press them. stuart: as you look across the spectrum of response from the white house, from secretary of state clinton thus far, our
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official response to this outrage, do you think it's okay? do you think it's cool words to cool the emotions? >> what i can tell you is that i want to see is cool for it. and look, it strikes me that the only appropriate response to what has happened in the past 24 hours is almost, oh, my god. do you know what i mean? it's a shocking moment and in moments of shock when you know you don't have all the information, be cool. stuart: but at what point do we say, enough. eno you don't kill our ambassador, having taken our money. >> you absolutely don't. stuart: you don't say that? >> no, no, i'm agreeing with your point. stuart: when do we say it? when do we say enough is enough? >> well, i think the president is speaking within this hour and hear what he says. >> one thing i believe should happen. next week when the president says he's otherwise engaged in campaigning in ohio darn well
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ought to get back to the white house and meet with prime minister bb netanyahu the only ally we have an of stable area in the middle east. stuart: i believe we've got an issue to your point. as we said the president is about to speak at this incident at 10:35 this morning, a few minutes from now in the rose garden. breaking news, fox news ed henry reports that president obama may cancel his campaign trip today to las vegas and november and those stocks are under review, and that's according to ed henry. under review. >> and of course-- >> of course should cancel those things. this is not a day for politics on anybody's part. we're in a crisis. stuart: but, this is now a part of the november campaign, is it not. >> it's like saying is history part of the voting in two months? yeah, i think so. you know, this is a big thing and it's happened. stuart: peggy noonan. so glad you were with us here on
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this particular day. thank you so much. back to the markets very briefly we still have market action this day. and the dow industrial average is up 31 points, i do believe it would have been a lot higher because the europeans are going to print up a storm. i think it would have been higher had it not been for this outrage in the middle east. to nicole, facebook's chief mark zuckerburg, admitting the missed steps, where is the stock. >> it's disappointed with the stock and saying that some employees may actually lead today. and 2055 and traded at almost $21 and hasn't been there since the middle of august. and he's basically saying, double down on the stocks and mobile ads are doing well and he tries to get out there and give some good outlook, and some spot it, some didn't. j.p. morgan bought it and evercore didn't. >> investors put it above $20 a share, not bad at all. nicole, thank you very much indeed. today is apple's big day, we could see a new iphone, could be the iphone five. could be unveiled and probably
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will be. and maybe a small ipad as well and our tech watcher in silicon valley is going to the apple event. 's going to join us next.
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>> right now, mitt romney on his statement on benghazi. >> it's disgusting and embraces the the hearts of all of us thinking of the people who served their lives because of
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freedom and justice and honor. we -- we mourn their loss and join together in prayer that the spirit of the almighty might comfort the families of those who have been so brutally slain. four diplomates lost their life, including the u.s. ambassador, jay chris cover stevens in the attack on our embassy at benghazi libya. and of course, with these words i extend my condolences to the grieving loved ones who have left behind as a result of these who lost their lives in the service of our nation. and i know that the people across america are grateful for their service and we mourn their sacrifice. america will not tolerate attacks against our citizens and against our embassies. we'll defend, also, our constitutional right of speech and assembly and religion.
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we have confidence in our cause in america. we respect our constitution. we stand for the the principles our constitution protects. we encourage other nations to understand and respect the principles of our constitution. because we recognize that these principles are the ultimate source of freedom for individuals around the world. i also believe the administration was wrong to stand by a statement sympathizing with those who have breached our embassy in egypt, instead of condemning their actions. it's never too early for the the united states government to condemn attacks on americans and to defend our values. the white house distanced itself last night from the statement, saying it wasn't cleared by washington, and reflects the mixed signals they're sending to the world. the attacks in libya and egypt underscore that the world remains a dangerous place, and that american leadership is still sorely needed.
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in the face of this violence, america cannot shrink from the responsibility to lead. american leadership is necessary to ensure that events in the region don't spin out of control. we cannot's tate to use our influence in the region to support to share our values and our interest. and over the last several years, we've stood witness to an arab spring that presence an opportunity for a peaceful and prosperous region, but also poses the potential for peril, if the forces of extremism and violence are allowed to control the course of events. we must strive to ensure that the arab spring does not become an arab winter. and with that, i'm happy to take any questions you may have. steve? steve? >> all right, that was governor romney and i'm going to paraphrase exactly what he said. he called the attack ott the consulate in libya disgusting
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and others should respect our constitution and our freedoms. and he said that the u.s. response thus far has been wrong and the u.s. must lead. that's what governor romney said to this developing situation. thing with being of course, that our ambassador to libya was killed in an attack in benghazi, along with three other staffers at that consulate. and this follows the occupation and the invasion of america's embassy in cairo egypt and the desecration of our flag and this is all, we're told, about a movie made in america, which some say slanders or maligns the prophet muhammad. the writer and director of that film that sparked the violence is now in hiding. rich edson is at the white house with more on that film maker. who was he and what's it all about, rich? >> we've cobbled this together from different news report and the basic signs are that he's a 52-year-old, lived in california, but identifies
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himself as an israeli and says that he wanted to showcase his view of islam as a hateful religion according to reports and said he raised 5 million dollars from 100 unidentified donors and posted the trailer for his film on youtube months ago and went unnoticed until recently on twitter and caught fire from there and we saw the results yesterday. stuart: thanks very much, indeed. rich edson. with the background on the man who made the movie which is at issue here in the violence in the middle east. and doug, what's your comments? >> well, romney himself was careful, we didn't hear about al qaeda. we didn't hear about suggested or proposed u.s. responses, we've got muted language and the world is waiting for the president. what's he going to say? what's he going to do? how is he going to protect u.s. interests and consulates around the world? these are huge questions, peggy noonan was right. there is a possibility of a widespread conflagration, which
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nuns of us wants, hopes or expects, but stuart, we are on the cusp of an extraordinary time. >> may i see, here is what i want to see done. maybe not relevant to this, but this is i speak for a lot of people here. i want to see a ringing defense of our freedom of speech. whether that is a heinous movie or whatever, it's our freedom the at issue here, we demand that our rights be made known around the world and that we stick with those rights. furthermore, we will not tolerate this outrage, the killing of an american ambassador is an absolute outrage and must the not be allowed to happen either now or again. >> i think you saw mitt romney calling in sharp contrast, secretary of state hillary clinton, and much more aggressive and came out and said words outrageous and disgusting, and here it is, in defense of the mirs amendment rights more
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than from the secretary of state. >> we're going to carry the president's words live at 10:5 eastern time this morning and what is he going to say? what will he do or say about this outrage in libya? we'll be back in a moment.
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the white house. ten minutes from now or thereabouts. ten minutes from now, you'll see it on the fox business network, and check the markets, the industrial average up 29 points, not much of a gain when europe is about to print up a storm. look at gold, down 20 cents, not much of a gain when europe is about to print up a storm. and sail with oil. 97 per barrel where we are on the markets and gas prices continue to climb overnight and not saying it's a new spike, but the upward move continues and 3.85 for regular now, and diesel at 4.11. i believe ten states above $4 for regular. and joining us now, trey, i'm going to -- i'm saying that the gains in oil, gold, and certainly stocks will be much greater because europe's going to print and ben bernanke will probably print and i'm saying the gains will be much greater were it not for the outrage in
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libya, what do you say? >> well, first of all, aren't we naturally assuming they were going to print anyway? i don't understand why this is necessarily news today. i will admit though, i am a little surprised the crude oil doesn't act all that great this morning. and considering all the tensions and things going on in the middle east. and you know, with what they're learning about israel and seeing in the back and forth between netanyahu and obama, at some point if i'm israel, this is an emotion year and why not put yourself in the middle of the election year topics and load the bombers up, send them west and don't return with inventory. i'm surprised, i would be surprised if israel doesn't do that. you're going to have to keep the risk premium in crude oil for the time being. >> rather inflammatory tres, and load up the bombays and load up with inventory. i want to move away from the world news events and focus now on apple.
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it's expected to unveil the latest version of the iphone later on today. that's what's expected and it's the iphone 5. joining the company from san francisco is our tech watcher, his name is robert scovel. all right, robert. here is what i think we're expecting. and an iphone 5 with a bigger screen, lighter weight. slimmer and more cool. is there anything else expected in the iphone 5? >> no, why do you need me? it sounds like you've got it nailed. stuart: you know, that doesn't seem like a whole lot of new stuff for the new iteration of the iphone. it doesn't seem like a major leap forward and that's what we were all expecting with the iphone 5. you're shaking your head why? >> yeah, this is-- i don't expect something revolutionary, i expect an evolutionary product that, you know, it's-- my normal friends are excited about this product. and the geeks in my life style are like, oh, we're going to be bored today. stuart: would you be bored if they came out with a new and
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smaller version of the ipad? would that excite your geeks? >> that would -- that would get me much more excited 'cause that's a new market area that apple isn't in yet. of course, i'm going to be buying a few of the iphone 5's so i'm excited, but not the kind of excitement that gets early-- hot and bothered. stuart: that's interesting, in the past apple has set the tone and had the great leaps forward. they've always excited the geeks. i mean, you guys, forgive me for saying this, you're the ones always turned on and now you're saying unless you they come up with something more, a bigger screen, bigger model. light and-- unless you do that. you're going to be disappointed. i'm sorry i interrupted, go ahead. >> i'm not looking so much at the hardware for my excitement. i had dinner with the team that did siri, and the context actual
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world is coming out soon is getting me more excited and they're working it and google on the google devices is a good example of this where it tells you step about your day and hey, your next meeting is in an hour and you better leave now because the traffic is bad. and tiri doesn't know what my-- where my next meeting is or how many times i've been changing restaurants in the past week. stuart: come on. >> and soon they'll know that. my head is spinning, you don't want that. a little box hey, your meeting in an hour. i mean. >> no, but. stuart: that turns you on. >> assistant that know you and help you live your life and that's-- it's the software, it's apps and apple is way ahead still on apps. i was at tech yesterday and entrepreneur after entrepreneur
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keeps coming up to me with an iphone and showing me the new app and that's why apple is still interesting. it and it doesn't matter the piece of glass they have on it, it's the apps of matter and tomorrow we're going to see a thinner, lighter, faster, nicer iphone and i'm going to be buying them, you know, because it's the best. stuart: i've still got my little blackberry right here and i'm a happy guy, okay? because i can tell. >> i'll have to buy you a new iphone and get you converted because pretty much everybody else in the world is. stuart: you are, i take all kinds of free stuff. you have no idea. . [laughter] >> mr. scovel, you're a good guy no matter what and appreciate it. a news alert for you. according to the latest rasmussen swing state poll, president obama leads mitt romney 46-45. doug, that's a swing state, and-- and 11 states together.
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obama leads by 1. >> this is close. obama got a bump out of the convention, up at the peak 4 or 5 points and settled down, swing states, one. obama is in a stronger portion, lector rally than romney. romney has to run the table and then pick up a couple of states. >> obama wins ohio and florida, it's over. but the poll says it's a new-- >> and president obama literally two or three minutes from now is going to outline his response to this outrageous killing of america's ambassador to libya. >> i couldn't agree more, trying to say exactly that. we don't know where it will guy out and play out. in 1980 sandra, we expected that jimmy carter will benefit not be destroyed by the hostage crisis. >> and the stock market was going up. if you go back to the notion
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that americans are going to vote by the pocket book, i tallied up five out of the 11 key states have awn employment rate above the national average with obviously the highest in-- and above the national average and nearly at 100 a barrel oil and this would show that president obama is in trouble and that there's not much time for this to change before the election. >> that's very true. and going back to the pocket book issues in those swing states. and we're about to hear from the president on this new outrage, in the middle east. and i've got to put it to you. and there are parallels here with 1980. if president obama doesn't come out strong, with a strong response, a vigorous statement of america's interest and its values, and again, i hate to say this, but, say, enough is enough. we will not tolerate this. if it looks in any way, shape or form, he's bad news.
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>> and the last is the most important winner and you cannot the attack a u.s. ambassador, embassy, kill an ambassador, attack another embassy on 9/11 and not have the president say enough is enough we will not tolerate it. stuart: mike reagan is with us and joining us now from california and mike reagan is the son of ronald reagan and he remembers very well that 1980 campaign, and i'm sure, mike, that you remember that ad. we have he been running it on our program earlier, where the voice says, do you think some third world dictator could be, would do this if ronald reagan were the president? and we're in that moment now, aren't we? aren't we exactly in that moment right now, mike reagan? yeah, that moment yesterday. you're absolutely right, varney, on that issue, with jimmy carter, it wasn't how he handled or mishandled the hostage crisis that ultimately showed in the favor of ronald reagan not jimmy carter that day. they were right, what one of
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your people said, they thought that would be a positive for jimmy carter, but the way he handled it made it a positive for ronald reagan. how the president of the united states comes out this morning, the statement he makes and how he handles this crisis it going to say a lot about what's going to happen on november 6th. now the parallels are together. the economy is in shambles, and now the middle east is like-wise, in shambles and you know something? he better buy god get bb netanyahu into the white house and start talking to bb netanyahu. or shame, shame, shame on president barack obama. stuart: now, let me go back to 1980. the economy was in very, very bad shape. it was clearly going into a recession, inflation was up. interest rates were rising and the price of gold was way up there. and yet, your dad won, hands down, i believe by ten points. my question is, did he win because of jimmy carter's performance on the economy? or jimmy carter's performance on
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the middle east crisis? >> it always comes down to the economy, stupid. but the middle east crisis also kept the eye on jimmy carter and the way he was mishandling the middle east and what he was doing in foreign policy, but it always comes down to the economy. where people are backed up in gas lines, when they're paying 21% interest rates. when the unemployment rate is in double digits. all of those things effect. as i say to people, stuart, i say to people not you're better off today than four years ago, better off today than yesterday? and america and the world is not better off today than they were yesterday. stuart: we're waiting for president obama to make his statement from the rose garden. part of the screen you can see the rose garden and waiting at the podium for the president to appear. before he appears, i want to run maybe the short version of that ad from 1980, that your tad put out where he was saying, you think this and this and this would happen if ronald reagan were the president?
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i just want to roll that and get your immediate reaction to it, roll it, please. >> do you really think iranian terrorists would have taken americans hostage if ronald reagan were president? do you think that the russians would have been in afghanistan if ronald reagan were president. do you really think that third rate libertarian dictators would laugh at america and burn our flag in contempt if ronald reagan were president? isn't it about time they have the strong new leadership ronald leaguen would provide as president? isn't it time america would have a president whose judgment we can trust? >> and mike reagan, earlier today, governor romney called outrage in libya as disgusting and yesterday, governor romney had said that the white house's response to the events at the embassy in egypt were disgraceful. do you think that's sufficiently strong at a time like this, a moment in history where there's a clear crisis, is he strong enough or too strong?
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is he inflammatory? what do you think? >> this is the time, really, for mitt romney to grab the mantle and show the world that he can be president of the united states of america and show the american people that he can grab that mantle. it's now available, depending of course what the president says this morning, the president cannot sit there and just walk through this rose garden and try not to upset anybody. what's happened in america, we're so fearful of offending people that we oath everybody. so, it's time for the president of the united states to stand up for american values and who we are and not try and make everybody happy. this is not a time to try and make everybody happy. this is a time to make americans happy and let americans know that my god, you're the president of the united states of america. get off the damn golf course and start leading. stuart: okay, do you think, however, that president obama has to reverse some of his mideast policies today in just
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literally a couple minutes time? does he have to reverse? he has offered-- he's offered the hand of friendship to islam and he's-- trying not to use the wrong words here, but had a soft approach to islam and what's going on in the middle east. can he now change that in one speech at this moment, reverse course, can he do that realistically? >> he can give great speeches and what is he going to do. i'd be calling john bolton. give me some leadership here, he needs to lead and let the middle east this is not acceptable at all to america, that we are going to find the people who are responsible for the murder of an american ambassador. you know, when my father was president, stuart, i traveled around the world and met so many of these ambassadors and the people that worked out there, and they're the most wonderful people on the planet. i've met ambassadors since barack obama's been president as
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i travel around the globe and these people are wonderful people, representing united states the measursmesh-- the united states of america, our american soil was taken in two different countries and ambassador was murdered and staff was murdered. the president cannot pussy-foot around and he's got to hold the people responsible who did it and let america know, this is not about campaigning today, i'm not going to nevada, i'm not going anywhere, i'm going to take care of problems. ronald reagan had to do it when that plane was hijacked back in the 1980's, stayed home at the white house and monitored what was going on to make sure that everything was taken care of. this president needs to do the same thing. mike, i want to make it clear to everybody, that this is "varney & company" and this is a financial program. we're giving great coverage to what is a world news event. but it does, to some degree, come back down to money. should we in america continue to
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pay egyptians and libyans, pay their government when this kind of thing is going on in their country? that's a financial angle. should we keep on paying? number two, should we in fact give a ringing endorsement to our values here in america which have created the prosperity which we all enjoy? can we enjoy prosperity unless we support the values of free speech and liberty for the individuals? can we have prosperity without supporting vigorously, those values? i want a comment from doug schoen or i'll get back to you in a second. >> stuart, we gave a billion and a half to egypt last week as a loan. intelligence knew whats with a happening and we have to hold them accountable. stuart: the president of united states is about to speak on the situation in libya, less' listen in. >> every day across the world, american diplomates and civilians work tirelessly to
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advance the nations. and often away from their families and sometimes brave great danger. yesterday, four of these extraordinary americans were killed in an attack on our diplomatic post in benghazi. among those killed was our ambassador, chris stevens, as well as foreign service officer shaun smith and we're still notifying the families of the others who were killed and today, the american people stand united in holding the families of the four americans in our thoughts and in our prayers. the united states condemns in the strongest terms this outrageous and shocking attack. we're working with the government of libya to secure our diplomates. i've also directed my administration to increase our security at diplomatic posts around the world and make no
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mistake, we will work with libyan government to bring to justice the killers who attacked our people. since our founding, the united states has been a nation that of all favorites and we reject the denigration of religions of others, but there's no justification for this senseless violence, none. the world must stand together to unequivocally respect these brutal acts. already many libyans joined us in doing so and this attack will not break the bond between the united states and libya, libyan security personnel fought back against the attackers, alongside americans. libyans helped some of our diplomates find safety and carried ambassador stevens' body to the hospital where we dr tragically we learned he had died. it's tragic he decide in
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benghazi, at the height of the revolution, chris led the post in benghazi with characteristic skill, courage and resolve, partnerships with revolutionaries and helped them as a plan to build a new libya. when the gaddafi regime came it an end chris was there to serve as our ambassador to the new libya and worked tirelessly to support this young democracy and i think both secretary clinton and i have relied deeply on his knowledge of the situation on the ground there. he was a role model to all who worked with him and the young diplomates who aspire to walk in his footsteps. along with his colleagues, chris died in a country that's still striving to emerge from the recent experience of war. today the loss of these four americans is fresh, but our memories of them linger on. i have no doubt that their
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legacy will live on through the work that they did far from our shores and in the hearts of those who loved them back home. of course, yesterday was already a painful day for our nation as we marked the solemn memories of the 9/11 attacks and we mourned with the families who were lost on that day and i visited the graves of troops who made the ultimate sacrifice in iraq and afghanistan and the hallowed grounds of arlington cemetery and had the opportunity to say thank you and visit with some of our wounded warriors at walter reed and then last night we learned the news of this attack in benghazi. as americans, let us never ever forget that our freedom is only sustained because our people who are willing to fight for it. to stand up for it. and in some cases, lay down their lives for it. our country is only as strong as the character of our people. and the service of those, both
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civilian and military, who represent us around the world. no acts of terror will ever shake the resolve of this great nation, alter that character or eclipse the light of the values that we stand for. today, we mourn for more americans who represent the very best of the united states of america. we will not waiver in our commitment to see that justice is done for this terrible act and make no mistake, justice will be done. but we also know that the lives of these american led stand in stark contrast to those of their attackers. and these four americans stood up for freedom and human dignity and they should give every american great pride in the country that they served and the hope that our flag represents to people around the globe who also yearn to live in freedom and with dignity. we grieve with their families, but let us carry on their memory
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and let us continue their work seeking a stronger america and a better world for all of our children. thank you. may god bless the memory of those we lost and may god bless the united states of america. >> mr. president was this an act of war? >> now, the president is walking away from the podium. i heard a shouted question there, mr. president, was this an act of war? the president made no attempt to answer that whatsoever. mike reagan is still with us, doug schoen is still with us. sandra smith is still with us. we will have a look the at what exactly the president just said. he rejected efforts to denigrate others belief. that appeared to be a rejection of the movie and he did not give a ringing endorsement to america's rights to free speech. no statement of policy or intent from the president today, doug schoen. >> justice will be done. that could be an assertive response. it could be no response at all. we don't know and we don't know what they know about the
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attacks. stuart: by the way i'm not implying a connection here, but the dow jones industrial average moved to the down side. i don't think there's a connection between what the president said and the direction of stocks, i don't believe there is a connection, but it's happened simultaneously. mike reagan, go ahead. >> i thought i was listening to a eulogy. i thought i was already at funeral and he was getting up to eulogize the people just killed not making a statement of outrage about what just happened. i'm really getting tired of hearing about this movie that nobody has in fact seen and somehow trying to say, well, maybe, you know, maybe this had nothing to do with it. these people that did this are outrageous thugs. that's who they are. they need to be brought to justice, but don't give me a eulogy, mr. president. show some anger, show some-- show some backbone standing up for america, and our values and who we are and what we've done for that countries and continue to do. as we just said we gave them a billion bucks a week ago, they
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didn't see this train wreck coming? my god, mr. president. >> with all due respect. necessary and appropriate for the president of the united states, as well as a tough response. stuart: and we didn't get anything more than a statement of regret at the deaths and the eulogy that you're talking about. there wasn't much more. >> justice will be done was the only response. stuart: sandra. >> it certainly was, again in stark contrast from what we heard from mitt romney, we didn't hear the defense of our constitution, didn't hear that aggressiveness going forward, the responsibility to lead. i mean, you didn't get the same sort of tone from president obama. stuart: you did not. governor romney used the word disgusting and disgraceful. sharp words indeed. thank you everyone, for contribute to go this discussion of what we just heard from the president and earlier in secretary of state. hillary clinton. we will be back in just a moment.
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and now to san francisco, two big tech events on the west coast today. apple's expected iphone announcement and the intel developers forum. liz claman is in san francisco shaking off three days in the valley liz, what do you have for us? >> oh, a lot, stuart. today live from the moss coney center, and 5,000 people will
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descend and talking about invasion, here at intel they will be unveiling brand new semiconductor chips that really help a lot of other companies build their own hardware up and through it. and everything from smart phones to tablets to of course, ultra books which are supposed to be the next big thing according to the ceo of intel, paul otellini, who runs this and the largest semiconductor company. 3 p.m. eastern, paul otellini joining us in an exclusive on fox business. and hundreds and hundreds of media descend on the forum, hewlett-packard to the other hardware makers, acer, you name it, dell, they want to hear what he has to say and he's exclusively coming on fox business, but of course, three days in the valley a bunch of other ceo's and valleys coming here at the developers forum including tim westgrin of pandora and they're big in the news because last week, a rumor, and the library is a similar
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service, what does he have to say about that, another fox business exclusive and stuart, as i send it back to you. doesn't matter how evil people are overseas and america fights back with ideas and innovations and life goes on. stuart: well said, liz claman. thank you very much. indeed. good luck there. thanks, liz. >> thanks. stuart: president obama and mitt romney and hillary clinton all speak about the events in libya. one last word on all of that coming up next. [ male announcer ] let's say you need to take care of legal matters. wouldn't it be nice if there was an easier,
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i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money needs an ally. speak to america's ambassador to libya has been killed along with other staffers. we have been hearing about this in reacting to it all morning. also taken or carrie carried fou the reaction of a victory of state hillary clinton, governor mitt romney, and the president himself. let's get a wrapup of what we have heard from the politicians and our leaders so far this morning. >> the big unanswered question
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is what the united states its response is going to be. we talked today about how there was not a ringing endorsement for the americas and their values, but what happens next? stuart: did the president even tell us a hint of what he might do? >> he only said justice will be done. >> don't think this is not a financially related story. the markets are more global than they have ever been as we stand today. the oil market, gold markets. we saw oil and gold higher prior to all of this with president obama and hillary clinton. they are reacting, don't think traders are not watching every bit of this. stuart: there is a financial angle to this. and here is digging a tunnel for the next hour. connell: justice will be done. dagen: i am dagen